6 planes 'held hostage': ILFC

Image
Bloomberg
Last Updated : Jan 29 2013 | 2:34 PM IST

International Lease Finance Corp is struggling to retrieve six Airbus SAS aircraft in India formerly operated by Kingfisher Airlines, saying it’s being “held hostage” by government authorities.

The world’s second-biggest aircraft-leasing company had sought to repossess the planes, saying the carrier was in default of contract conditions.

While the civil aviation authority said it has deregistered four aircraft and will soon proceed with the other two, ILFC still can’t get them back because other government bodies have yet to cooperate, ILFC Chief Executive Officer Henri Courpron said on Tuesday.

“Deregistration is only one of the steps you need to get the airplanes out of the country,” Courpron said in an interview in Dublin at a conference sponsored by Airline Economics.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 23 2013 | 12:28 AM IST

Next Story